Gilead reports financial results

Gilead Sciences Inc. (NASDAQ:GILD) reported 4Q11 non-GAAP diluted EPS of $0.97, missing by $0.08 the Street's estimate of $1.05 but up from $0.95 in 4Q10. Revenues for the quarter were $2.2 billion, above the Street's estimate of $2.18 billion and up 10% from $2 billion in 4Q10. Operating expenses rose 14% to $1.3 billion in the quarter.

Combined sales of Gilead's antiviral products rose 9% to $1.9 billion. Sales of HIV drugs Atripla emtricitabine/tenofovir/efavirenz and Truvada emtricitabine/tenofovir increased 11% and 9% to $863.3 million and $746 million, respectively. Complera emtricitabine/rilpivirine/tenofovir, which Gilead launched last August in the U.S. for HIV, had 4Q11 sales of $19.7 million. ...